Confluence of supportsIn the 30m chart, price is in a contracting triangle. Momentarily fell to a support and came back up. In the daily, price has broken from a channel and in the weekly, entering into another channel. I expect continuation to male a (d) wave in a contracting triangle of a Wave 4 on the weekly. The d-leg of a Wave 4 is counter trend and make an ABC form. Price is breaking a resistance at the weekly, confirmed by MACD. A pull back is expected in an ABC, if not now then at $53000 which will be supported by the current resistance.
The current support is at $44000.
R/R = 1.71
2% risk of a $30000 is 0.196 Bitcoin
The confirmation to enter comes from the hourly. in 1-hr chart there is pin bar.
Robinhood does not let me!
My account sum has jumped up, it shows only $25'000.00 available to invest, and it dies not let me use it with an error!
Daily:
Weekly:
Ok. Let's wait for the pullback!
